At the end of December 2016, Azerbaijan's 25 insurance companies reported aggregate gross written premiums of AZN 486 million (EUR 260 million), which is 9.7% more than in 2015. Claims paid by the local insurers totaled AZN 237 million (EUR 127 million), up by 32% y-o-y.

In 2016, Azeri insurance companies concluded more than 140 thousand insurance contracts on immovable property insurance class, representing EUR 13,1 million in GWP, up by 1.5% compared to 2015, according to local Compulsory Insurance Bureau statistics.

In 2016, the Azeri insurance companies sold 10.514 policies on the Green Card segment, according to data published by the Compulsory Insurance Bureau of Azerbaijan, representing GWP of EUR 400 thousands.

The Supervisory Board of Allianz Deutschland AG has appointed Klaus-Peter ROHLER as Chairman of the Management Board (CEO) and successor to Manfred KNOF, who is stepping down from the position and will take time off for health reasons.

The 61st edition of the "Rendez-Vous de Septembre", the annual traditional meeting of reinsurers ends today in Monte Carlo. The Nat Cat insurance protection gap, as well as the global insurance market readiness to deal with the increasing complexity of the cyber risks were among the most debated topics.

The latest edition of the XPRIMM Motor Insurance Report was launched in Monte Carlo, on the occasion of the "Rendez-Vous de Septembre", provind FY2016 statistical data and analisys for the CEE, SEE and CIS regions.

The 61st edition of the "Rendez-Vous de Septembre", the annual traditional meeting of reinsurers has started yesterday in Monte Carlo. XPRIMM publications on the CEE, SEE and CIS insurance markets are available at the XPRIMM stand in Fairmont Hotel as well as at the other event's venues.

Swiss Re forecasts growing demand for new reinsurance solutions that help clients manage their portfolios and expand into new segments and markets, company's officials said at the press conference that took place Monday, in Monte Carlo.

In the wake of the decision by the United Kingdom (UK) to leave the European Union (EU), insurers that access EU business through their UK companies have begun to unveil plans to establish additional subsidiaries, primarily in Ireland, Luxembourg or Belgium, according to an analysis presented by AM Best during Rendez-Vous de Septembre.

Most reinsurers gathered in Monte Carlo have expressed their concern with the lack of proper insurance protection of properties around the world, especially that the latest events have once again shown that climate change is a real challenge.